The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-08-05
CONDITION OF THE MARKETS
Corn Continues to Absorb the Attention
of Chicago Grain Spectators,
Rut No Material Advance Is Established
Small Fluctuations in Wheat-Osts Lower
Provisions Dull and Without Change.
MONEY, BONDS AND STOCKS.

Increased Activity, Accompanied by Frequent
Fluctuations in Prices.
NEW YORK, Aug. Mooney on call was easy
MAG per cent, the last loan being made at .,
llosiug offered at 3.
Prime mercantile paper. 81 06 per cont
Sterling exchange was dull but steady at
Hs14 for sixty-dsy bill, and a. 3t for demand.
The total sales of stocks today were 34S,So4
shares, including the following: CANADA
Southern $3.50; Delaware, Lackawanna %
Western, 13 440; Erie, 10 $751; Lake Shore 2l,els;
Louisville g. Nashville, $3.50; Missouri Pacinc'
1876 Northwestern, Is, ass; New Jersey Central
f045 Northern Pacific. 3, 105; oregon Is sin
continer tai, s. 440; Pacific Mail, 4,O5o; heaolng,
81. 800: St Paul, 27,2O0; ST. Paul q Omana,
1910 Texas Pacific, 3.410; Union PACING, li,olo'
Western Union, 33. 100 80
The AZ nouncement Of the Secretary OF the
Treasury that he would prepay interest and buy
ponds for the sinking fund created quite scare
among the bears" this morning and TOT some
time there was lively scrambllng 10 cover
s.shortsD The upward movement was also &C
FEDERATED by liberal purchases Tor London ac-
count and the ont town orders were qulle as
numerous as yesterday. the advance 10 pr'ees
during the forenoon was fully equal TO anything
that has been seen in that line for some time.
Much feverisbness marked the TRANSACTIONS TOT
o period, but later the advance became genera
and very decided. Later in the day, however,
the sfbears" recovered from their scare
and began to argue that the rise wouio
cease with the elimination OF the snort inIer-
est and the more influential traders put outIresn
Iiues on the short side. This induced consld-
cradle realizing by the smaller traders on the
..lonc" side and large proportion OF the gains
were wiped out. Rumors that the nevada
Rank was in trouble aided in producing the re-
action but upon the contradiction OF the stories
a better tone became apparent. Inc news OF
the dav was generally favorable. and mucn taiK
was heard in regard to the settlement OF Inc
cable war, beside which the builish utterances Oh
several prominent operators infused confidence
into their followers The opening was very
active and strong at advances over last even
inCs final prices of from to 1t per cent.
Pricas were feverish and unsettled Tor
aome time, but soon began 10 al
vance and further fractional gains we're recorded
The upward movement continued until
noon subiect to one or two slight reactions, but
after that the dizziness became a feature and the
couraeed to make n demonstration. and large
proportion of the forenoon's gain was lost New
ENGLAND and Western Union were paid special
attention. and their declines were material Inc
close was quiet but firm at a rally from the low
est figures of the afternoon. Everything Is
higher tonight. Colorado rose 3; Peoria, De-
cater e. Evansville, II; Northwestern and w est
ern Union e; Missouri Pacific, II; Delaware d
Hudson, II; Oregon q Extraordinarily and
Chicago, st. Louis 81 Plttsonrg preierreo' per
cent.
Railroad bonds were stronger and higher, In
svmnathy with stocks; sales 1904 000 Hooking
Valley fyes rose 2, to 734: Peoria, Decatur q
Evansville seconds. 81, to 70: Wabash general
trust receipts, 2, to 90, and Ohio Southern In
comes. Al, to 40 .
strong.